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Home » Press Releases » Enhanced adoption of Infrastructure as a Service (IaaS) due to hybrid cloud boom and business growth in diverse verticals will drive the market to reach aggregate $92.19 billion by 2023, at a CAGR of 18.6%

Enhanced adoption of Infrastructure as a Service (IaaS) due to hybrid cloud boom and business growth in diverse verticals will drive the market to reach aggregate $92.19 billion by 2023, at a CAGR of 18.6%

The increased pace of adoption of various deployment models, private, public, and hybrid cloud, is boosting the IaaS market growth. Additionally, enhanced demand from SMEs & governments, economic growth, and scalable resources are the prime factors driving the market growth.

Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Infrastructure as a Service (IaaS)Market – Global Drivers, Opportunities, Trends, and Forecasts: 2017–2023” (June 2017).

According to Infoholic Research, the Infrastructure as a Service (IaaS) Market will experience a significant growth during the forecast period due to heightened demand for high-performance computing, increasing reliability, stability, and supportability, reduction in ongoing cost and elimination of capital expenditures, and better security. The market is expected to grow at a CAGR of 18.6% during the forecast period 2017–2023 to touch an aggregate of $92.19 billion by 2023.

The Infrastructure as a Service (IaaS) Market has been analyzed by four segments: deployment models, solutions, verticals, and regions. Hybrid cloud computing employs both private and public cloud services and provides various features such as flexibility, cost-effective model, security, and scalability. Enterprises are adopting hybrid cloud to deliver services across public and private environment with a single user experience. This will help to reduce the overall IT management costs in a streamlined manner and simplify the provisioning experience. More than 80% of the enterprises are planning to adopt the hybrid cloud technology within the next couple of years. Hybrid cloud is expected to grow at a CAGR of 20.6% during the forecast period.

In terms of solutions, Disaster Recovery as a Service (DRaaS) holds the major share due to enhanced demand from end-users as they store huge chunk of confidential data in the cloud environment. Managed hosting services offers reliable, secured cloud-enabled, and traditional hosting options to address a broad range of complex business requirements. Moreover, it helps enterprises to optimize mission-critical IT infrastructure performance. High-Performance Computing as a Service segment is expected to grow at a CAGR of 19.0% during the forecast period.

In terms of verticals, IT & Telecom, Banking, Financial Services, and Insurance (BFSI), Government, and Healthcare are the major end-users preferred by the various IT suppliers. The rising mobile commerce, digital business, and online marketing are expected to support the retail growth. IaaS application in the utility sector is expected to reach $4.54 billion by 2023.

North America holds the major market share as the region is said to be the world’s largest region for cloud adoption. Europe stands next to North America as increasing customer awareness and maturity of cloud services in this region is impelling a phased migration from on-premises-based data centers to a cloud environment. The region is expected to see a growth and the UK, Germany, France, Spain, and Italy are supporting the region’s economic growth. In Asia Pacific, more than 60% of the companies are planning to adopt both on-premises and cloud-based models. Latin America is the fourth fastest growing region in the world. Brazil is the fastest growing country in Latin America and more than 40% of the IT spending is from Brazil. Moreover, MEA is set to be an emerging market for IaaS due to the transition from traditional on-premises deployment to the cloud-based deployment of various solutions across industries.

“The Infrastructure as a Service (IaaS) Market is an attractive space for technology providers, investors, service providers, application providers, and content providers to expand their business in core operations. The Solutions segment is expected to hold enormous opportunities during the next 5–6 years due to increased cloud adoption, escalating prominence of digital technology, IoT technology, and advanced technologies”. – Prasanth, Research Analyst at Infoholic Research

The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:

This report not only highlights users’ conundrum (challenges and barriers to adopting IaaS) but also brings in their perspective on the market.

The market has been analyzed by considering the key regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies.

The report analyzes the IaaS market according to the deployment models, solutions, verticals, and regions.

The report analyzes the top 12 players in terms of market reach, business strategy, and business focus.

The report provides stakeholders’ insights and key trends (current and future) of the market.

The report covers the present scenario and the growth prospects of the IaaS market during the forecast period 2017–2023. Moreover, to calculate the market size, the report considers revenue generated from the sales of the below-mentioned segments: